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Neil Wilson, analyst at online trading platform Markets, warned that Debenhams's poor performance meant shareholders were likely to miss out on a dividend payment this year.

And Nicholas Hyett, equity analyst at Hargreaves Lansdown, added: 'These numbers will be all too familiar to long suffering Debenhams shareholders.

'In 2013 Debenhams was posting pre-tax profits of over £150million a year, but half a decade of falling sales and heavy discounting has trashed margins and left the group struggling to make ends meet.'

Chief executive Sergio Bucher insisted investors would start to see its strategy bear fruit from the start of its next financial year in September.

Debenhams has been investing in its beauty business, refurbishing its shops and letting space out to restaurants and gyms in stores.

In the update, Debenhams reported a 2.1 per cent boost to sales in the 41 weeks to June 16. Online sales boosted the store – they were up 11.5 per cent during the period.